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City Developments ( (SG:C09) ) has issued an announcement.
City Developments Limited (CDL) has expanded its hospitality portfolio in Central London by acquiring the Holiday Inn London – Kensington High Street for £280 million. This strategic acquisition enhances CDL’s presence in the affluent Royal Borough of Kensington and Chelsea, adding to its portfolio of over 3,000 hotel rooms in the area. The hotel, situated in a prime location with high occupancy rates, is expected to generate a running yield of over 6%, reinforcing CDL’s strong positioning in the competitive London hospitality market.
The most recent analyst rating on (SG:C09) stock is a Buy with a S$9.00 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
More about City Developments
City Developments Limited (CDL) operates in the real estate industry, focusing on property development and investment. It offers a range of services including hospitality, residential, and commercial property management, with a significant market presence in key global cities.
Average Trading Volume: 2,297,458
Technical Sentiment Signal: Buy
Current Market Cap: S$6.56B
For an in-depth examination of C09 stock, go to TipRanks’ Overview page.